regarding: 'trading time and money'. My simple rule has always been, if I can hire someone to do something by the hour less than what I get paid by the hour then I should do that. This is 'trading money for time'. To offset the money spent, I should then reverse and 'trade time for money' either by increased work or training and education for an increased pay rate.

In my own experience, I've found that reasoning that way has some real downsides:

- Just because my hourly rate is $X, it doesn't follow that I can always work an additional hour to make an additional $X.

- After working 40+ hours/week doing paid work, working an additional hour at my day job to avoid doing something else does not make for a happy life. In fact, it makes life quite dull, and made me a very narrow person.

It also makes you dependent on other people. Finding the right people and matching schedules has a cost.

I can repair my motorcycle any day I choose. Delivering my motorcycle to a mechanic during office hours has a cost. Finding a good mechanic has a cost.

I also find that eating at restaurants is more time-consuming than cooking at home. I have to go there, order and wait, then head back home after.

> Just because my hourly rate is $X, it doesn't follow that I can always work an additional hour to make an additional $X.

this is a good point for salaried employees. in any case, your pre-tax hourly rate is sort of a meaningless figure for comparison. if you want to do this kind of comparison at all, you should probably think in terms of disposable income. for example, if you make $30/hr post-tax and half of your budget is fixed costs, a $30 discretionary purchase is two hours worth of work.

Also your after tax hourly income is substantially lower than your pre tax income (which is what most people think of).

But: if you have a company you can actually hire people pre-tax surprisingly often.

Not for personal chores surely? Only business related ones.

Surely! But that's still quite a lot.

Your time is only worth money if you’d otherwise be working. You can’t just say, well, I make $100/hr so I will outsource any task I can that costs less!

I make a salary, not hourly, so it really doesn’t make sense for me to hire someone to do a task I can do myself. Just tossing $$$ away.